is warranted. ; We then turn to the adjustment process. First, we present evidence that a narrowing of Japan's record … slower than would have been predicted by a simple econometric model, if Japanese trade. We then explore several possible … Japanese export prices than in the past, and the slow pass-through of terms-of-trade gains to consumer prices. Evidence is also …

This paper examines the available data that may shed light on the carry trade in Japanese yen. We define an individual … on bank loans and bond holdings by currency reveal a large apparent yen carry position of the Japanese official sector … and modest carry positions in the Japanese and foreign banking sectors. The Japanese private non-banking sector has a …